The world has seen countless turbulent times. Whether it is directly linked to world economy or peace, history shows that true tranquillity has been rare and fleeting. Yet, as the world progresses, rapid technological advancements and shifting geopolitical landscapes continue to reshape global dynamics.
The interconnected nature of our modern world means that even any conflicts or economic downturns can cast uncertainties across the globe. More than that, the digital era has accelerated these processes, influencing policy decisions in ways never before imagined. As issues such as rising price inflation, trade tensions, regionalisation, and shifting supply chains become more prevalent, individuals and businesses must adapt to an evolving landscape and build their resilience in the face of unforeseen disruptions.
Participants gained insights into the dynamics of global economy in relation to geopolitical and technological development during the talk
UTAR’s Teh Hong Piow Faculty of Business and Finance (THP FBF) and the Financial Economics Society (FES) organised a talk titled Transition to a Multimodal World During the Era of AI and Geo-economics Fragmentation on 21 March 2025 at UTAR Kampar Campus.
Moderated by THP FBF academic Prof Dr Wong Chin Yoong, the session aimed to provide insights into the impact of geo-economic fragmentation and artificial intelligence (AI) advancements on industries, economies, and global dynamics.
THP FBF and FES invited Prof Dr Tang Heiwai, Director of the Asia Global Institute and Victor and William Fung Professor in Economics at the University of Hong Kong (HKU) Business School, to share his valuable insights into this meaningful topic.
Prof Tang explaining the trends of globalisation and deglobalisation over the past decades
During his presentation, Prof Tang provided an overview of the global economy, giving a clear insight into the world’s current growth rate. Despite steady growth, he noted that the risk of global inflation remains high, with its effects more noticeable in developed economies. As he explained the current trend of price inflation, Prof Tang attributed its surge to geopolitical tensions, which have driven up shipping costs, leading to economic trends such as firmer GDP (Gross Domestic Product) growth, tighter labour markets, and higher input costs.
Due to an intricate series of geopolitical tensions, Prof Tang mentioned that globalisation is unlikely to return to pre-2008 level but will continue progressing steadily with the emergence of new technologies such as AI. As a key example, Prof Tang highlighted the geopolitical relationship between two of the world’s largest economies, the United States (US) and China. In doing so, he discussed the geopolitical strategies employed by both economies in the past and present, emphasising topics like the Sino-US Trade War, US-China export and import statistics, and their foreign direct investment (FDI) stock.
Meanwhile, Prof Tang discussed Malaysia’s economic future, emphasising the nation’s solid GDP growth in 2024, its rising prominence as a global semiconductor hub, and Malaysians’ adaptability in international trade.
As AI continue to permeate the job market and economy, students joined Prof Tang in the discussion of skill development in the AI era. During the discussion, Prof Tang offered his advice on using popular AI tools such as ChatGPT and Deepseek, encouraging students to use them efficiently for skill enhancement without relying entirely on them. “AI is never perfect. Strive hard to be at the top, rather than settling for a B-level performance. Your own hard work and talent are still the keys to success in this evolving era,” he said.
Also present at the talk session were THP FBF Dean Assoc Prof Dr Au Yong Hui Nee, Head of Department of Economics Dr Thavamalar Ganapathy, Head of Programme for Doctor of Philosophy (Economics) Dr Vikniswari Vija Kumaran; and academics Prof Dr Lau Lin Sea, Prof Dr Eng Yoke Kee, Dr Koay Ying Yin, Ms Chitrah Krishnan, and Mr Lee Chin Yu.
By addressing real-world geopolitical phenomena, the talk helped students develop a clear understanding of the effects of geopolitical factors and AI advancements on the global economy, further solidifying their knowledge of international relations and economic trends. This understanding enabled students to critically analyse potential economic trends driven by technological advancements and global power dynamics, providing deep insight into the future job market.
From left: Prof Lau, Dr Vikniswari, Prof Eng, Prof Wong, Dr Au Yong, Prof Tang, Dr Thavamalar, Mr Lee, Dr Koay, and Ms Chitrah after the talk
Students from FES celebrating the talk’s success with Prof Tang
Participating postgraduate students from THP FBF taking a group photograph with Prof Tang
© 2025 UNIVERSITI TUNKU ABDUL RAHMAN DU012(A).
Wholly owned by UTAR Education Foundation (200201010564(578227-M)) LEGAL STATEMENT TERM OF USAGE PRIVACY NOTICE
